Spark Therapeutics, a drug developer spinout of Children's Hospital of Philadelphia, is set to go public on Nasdaq.
Drug developer Spark Therapeutics is planning to hold an IPO, according to documents filed with the US Securities and Exchange Commission.
The US-based Children’s Hospital of Philadelphia spinout is yet to set a date, number of shares to be offered, or a price range for the IPO, but will be trading under the ticker symbol “ONCE” on the Nasdaq market.
Last year in May, the spinout raised $72.8m in a series B round, led by Sofinnova Ventures. Other named investors include investment firms Brookside Capital, Deerfield Management, Rock Springs Capital, T. Rowe Price Associates, Wellington Management, and two private healthcare funds.
The company also secured approval from the US Food and Drug Administration in November for its drug candidate Spk-Rpe65. The drug has been developed to treat inherited retinal dystrophies, a range of conditions that can lead to blindness. Although the drug is experimental, the FDA approved Spark’s drug on the grounds that there are currently no other treatments available for retinal dystrophies.
JP Morgan and Credit Suisse will act as lead book-running managers in the offering, with Cowen and Company acting as lead manager.
